Bank of America Corp DE Grows Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Bank of America Corp DE boosted its position in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 21.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,685 shares of the company's stock after buying an additional 24,991 shares during the period. Bank of America Corp DE owned approximately 0.21% of Perdoceo Education worth $3,724,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its stake in Perdoceo Education by 227.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company's stock valued at $34,000 after acquiring an additional 913 shares during the period. Quarry LP raised its stake in shares of Perdoceo Education by 223.6% in the fourth quarter. Quarry LP now owns 1,793 shares of the company's stock worth $47,000 after purchasing an additional 1,239 shares during the last quarter. R Squared Ltd bought a new position in shares of Perdoceo Education in the fourth quarter valued at approximately $60,000. KBC Group NV lifted its holdings in shares of Perdoceo Education by 47.5% in the fourth quarter. KBC Group NV now owns 3,696 shares of the company's stock valued at $98,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Perdoceo Education by 53.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,875 shares of the company's stock valued at $103,000 after buying an additional 1,355 shares during the last quarter. Institutional investors own 93.46% of the company's stock.

Perdoceo Education Stock Performance

PRDO stock traded up $0.14 during midday trading on Wednesday, hitting $33.91. The company's stock had a trading volume of 59,867 shares, compared to its average volume of 558,398. The company has a quick ratio of 5.45, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 0.75 and a beta of 0.85. Perdoceo Education Co. has a 1 year low of $20.23 and a 1 year high of $34.60. The stock's 50-day moving average price is $28.24 and its 200 day moving average price is $27.29.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.66 by $0.04. The business had revenue of $213.00 million for the quarter, compared to the consensus estimate of $207.97 million. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. Perdoceo Education's revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, equities analysts forecast that Perdoceo Education Co. will post 2.41 EPS for the current year.

Perdoceo Education Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, May 30th. Perdoceo Education's dividend payout ratio (DPR) is presently 23.01%.

Insider Buying and Selling at Perdoceo Education

In other news, SVP Elise Baskel sold 17,818 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $24.16, for a total value of $430,482.88. Following the completion of the transaction, the senior vice president now directly owns 93,354 shares of the company's stock, valued at $2,255,432.64. This trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd S. Nelson sold 38,984 shares of Perdoceo Education stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $24.66, for a total value of $961,345.44. Following the transaction, the chief executive officer now directly owns 644,047 shares of the company's stock, valued at $15,882,199.02. The trade was a 5.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,116 shares of company stock valued at $3,895,709 over the last three months. 2.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barrington Research lifted their price objective on shares of Perdoceo Education from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen cut shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th.

About Perdoceo Education

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.